When it comes to international trade, it is important to have a standardized system for classifying products. This is where the Harmonized System (HS) Code comes into play. The HS Code is an internationally recognized system that categorizes different types of goods for import and export purposes. In this article, we will delve into the details of HS Code 62111180, which pertains to men's or boys' swimwear made of textile materials.
HS Code 62111180 specifically refers to swimwear for men and boys that is made of textile materials, excluding man-made fibers (mmf). It is important to note that this swimwear should contain under 70% by weight of silk or silk waste, and it should not be knit or crocheted.
Understanding the specific characteristics and composition of a product is crucial for international trade. The HS Code provides a universal language that ensures clarity and consistency in trade documentation. By using the HS Code, importers and exporters can easily identify and classify their products for customs clearance and tariff purposes.
Speaking of tariffs, the Bound / MFN duty rate for HS Code 62111180 is 7.5%. This means that whenever a country lowers a trade barrier or opens up a market, it must do so for the same goods or services from all its trading partners. Tariffs play a significant role in international trade, as they can impact the competitiveness and profitability of businesses.
When it comes to quantities, HS Code 62111180 is measured in dozens (DOZ). This unit of measurement is commonly used for products that are sold in bulk or sets. By using standardized units of measurement, it becomes easier to compare and track trade data.
Additionally, there are special tariff preference programs associated with HS Code 62111180. These programs provide specific benefits and exemptions for certain countries. For example, swimwear classified under this HS Code is eligible for free trade in countries such as Bahrain (BH), Canada (CA), Chile (CL), Israel (IL), Jordan (JO), Mexico (MX), Oman (OM), Peru (P), and Singapore (SG). These countries have established special rates or duty-free treatment for swimwear falling under this category.
However, there are a few exceptions. Australia (AU) imposes a tariff rate of 6.7% on swimwear classified under HS Code 62111180, while Morocco (MA) imposes a tariff rate of 0.7%. These exceptions highlight the importance of understanding the specific tariff rates and regulations of different countries when engaging in international trade.
Importing and exporting swimwear classified under HS Code 62111180 can occur between various US states. The specific states involved in the import and export of this product may vary depending on market demand and supply chain logistics. It is important for businesses to consider factors such as transportation costs, market access, and consumer preferences when determining the most viable trade routes.
HS Code 62111180 covers men's or boys' swimwear made of textile materials (excluding mmf), containing under 70% by weight of silk or silk waste, and not knit or crocheted. This HS Code facilitates the classification and regulation of swimwear for international trade purposes. Understanding the details of the HS Code, including tariff rates and special tariff preference programs, is essential for businesses involved in the import and export of swimwear.